SAN FRANCISCO: Healthcare fraud, payment -systems and costs will be on the menu at a discussion in San Francisco today.
California Lieutenant Governor, Gavin Newsom will meet with Former U.S. Secretary of Health and Human Services and Former Governor of Wisconsin Tommy G. Thompson and other industry leaders at 2:30pm at the city's Omni Hotel.
It's understood that the meeting will explore ways that the private and public sectors can work together to to combat healthcare fraud and create better, more transparent payment system to reduce healthcare costs.
HealthcarePays (HCP) will moderate the meeting as it prepares to implement its industry-owned healthcare payment network.
Transparency & Fraud
According to the Governor, current healthcare fraud is estimated to be between $70 and $234 billion a year nationally. This figure he says is 'unacceptable and creating a negative impact on the operational budgets of every state in the country'.
He said that California alone spends an estimated $6 billion a year, and he hoped that the meeting would help to work out some comprehensive solutions amongst the private and public sectors to address rising healthcare costs.
"One fundamental way is to streamline the payment authorization process, as has been so successful in financial services. Collaborative payment processing can systematically identify fraud in healthcare in a way never done before," the Governor said.
"If we can find and eradicate these hidden costs we can divert those savings where the resources are needed most – caring for our citizens," he added.
Former Secretary of Health and Human Services and Former Governor of Wisconsin Tommy G. Thompson agreed, stating that waste and fraud is one of the biggest year-on-year financial burdens facing healthcare today.
"The recent events around healthcare.gov and the rollout of Obamacare are troublesome. Every bit as troubling, but below the recent headlines, is the ever-increasing burden of fraud and waste on healthcare," Thompson said.
Mr Thompson said that it was time for us to focus on the high price we were paying as a nation for healthcare administration. And that we should look at payment practices that have left the door open to waste and fraud.
"By tackling these issues, providing cost transparency, and collaborating on healthcare payment authorizations, we can protect the value of everyone's premium dollars and ensure every penny possible is spent on quality care."
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